Malone Lam, a Singaporean citizen and recent Miami resident, pleaded guilty in Washington, D.C., to taking part in an international cybercrime conspiracy that stole and laundered more than $245 million in cryptocurrency.Attorney Jeanine Ferris Pirro announced the plea after Lam appeared before US District Judge Colleen Kollar-Kotelly.$245 Million Crypto HeistAccording to the official press release, the 22-year-old pleaded guilty to one count of participating in a RICO conspiracy, and the judge scheduled a status hearing for December 8, 2026. Court documents claim the criminal enterprise started no later than October 2023 and continued through at least May 2025.The group grew through connections on online gaming platforms and included people based in California, Connecticut, New York, Florida, as well as other countries. Its members relied on social engineering and, at times, home break-ins to gather information that helped them drain victims’ crypto wallets.US Attorney Pirro said,“If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable. This defendant led an international network that preyed on victims through deception, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency. Working with our partners at the FBI and IRS-CI, we will continue to hunt down the criminals who weaponize technology to steal from innocent people.”Nightclubs, Exotic Cars, and Luxury SpendingLam, who used the aliases “Anne Hathaway,” “$$$” and “King Greavy,” allegedly organized the operation, selected targets and assigned roles among the conspirators. The stolen funds were then spent heavily on luxury goods and services. The group paid as much as $500,000 for a single night of nightclub services, bought handbags worth tens of thousands of dollars to give away at nightclub parties, and purchased watches worth $100,000 to more than $500,000.They also spent tens of thousands on luxury clothing, rented homes in Los Angeles, the Hamptons, and Miami, hired private jets and a private security team, and acquired exotic cars worth between $100,000 and $3.8 million. Law enforcement arrested Lam on September 18, 2025, at his rental home in Miami.The post Crypto Crime Empire Crumbles as 22-Year-Old Ringleader Malone Lam Pleads Guilty appeared first on CryptoPotato.